NuVasive (NUVA) Tops Q3 EPS by 31c, Revenues Beat

NuVasive (NASDAQ: NUVA) reported Q3 EPS of $0.55, $0.31 better than the analyst estimate of $0.24. Revenue for the quarter came in at $295.3 million versus the consensus estimate of $256.68 million.

Third Quarter 2020 Highlights

• Net sales increased 1.5% to $295.3 million, or 1.2% on a constant currency basis;
• GAAP operating margin of 9.2%; Non-GAAP operating margin of 15.8%; and
• GAAP diluted earnings per share of $0.11; Non-GAAP diluted earnings per share of $0.55.

"In the third quarter, NuVasive experienced faster-than-anticipated recovery from the impact of COVID-19 with net sales increasing year over year driven by high-single digit growth in our International business and further stability of the US spine market," said J. Christopher Barry, chief executive officer of NuVasive. "The Company remains focused in the fourth quarter on executing against its innovation roadmap, including the launch of our re-designed cervical portfolio, the furthering of our Advanced Materials Science implant portfolio with multiple new implants and executing on key Pulse milestones."

For earnings history and earnings-related data on NuVasive (NUVA) click here.

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